EverSource Wealth Advisors LLC Increases Stake in The Descartes Systems Group Inc. (NASDAQ:DSGX)

EverSource Wealth Advisors LLC raised its holdings in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 14.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 847 shares of the technology company’s stock after acquiring an additional 108 shares during the period. EverSource Wealth Advisors LLC’s holdings in The Descartes Systems Group were worth $96,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Avior Wealth Management LLC increased its holdings in The Descartes Systems Group by 2.8% during the third quarter. Avior Wealth Management LLC now owns 4,273 shares of the technology company’s stock valued at $440,000 after buying an additional 117 shares during the last quarter. Mather Group LLC. boosted its position in shares of The Descartes Systems Group by 301.7% in the fourth quarter. Mather Group LLC. now owns 241 shares of the technology company’s stock worth $27,000 after purchasing an additional 181 shares during the period. Allworth Financial LP boosted its position in shares of The Descartes Systems Group by 39.8% in the fourth quarter. Allworth Financial LP now owns 639 shares of the technology company’s stock worth $77,000 after purchasing an additional 182 shares during the period. Barclays PLC boosted its position in shares of The Descartes Systems Group by 2.8% in the third quarter. Barclays PLC now owns 10,008 shares of the technology company’s stock worth $1,031,000 after purchasing an additional 270 shares during the period. Finally, First Hawaiian Bank boosted its position in shares of The Descartes Systems Group by 1.8% in the fourth quarter. First Hawaiian Bank now owns 16,954 shares of the technology company’s stock worth $1,926,000 after purchasing an additional 302 shares during the period. 77.73% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

DSGX has been the subject of a number of recent analyst reports. TD Securities upped their price target on shares of The Descartes Systems Group from $115.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Loop Capital initiated coverage on shares of The Descartes Systems Group in a research report on Tuesday, December 17th. They issued a “buy” rating and a $140.00 price target for the company. BMO Capital Markets dropped their price target on shares of The Descartes Systems Group from $120.00 to $113.00 and set a “market perform” rating for the company in a research report on Thursday, March 6th. Royal Bank of Canada dropped their price target on shares of The Descartes Systems Group from $133.00 to $130.00 and set an “outperform” rating for the company in a research report on Thursday, March 6th. Finally, Stephens dropped their target price on shares of The Descartes Systems Group from $145.00 to $137.00 and set an “overweight” rating for the company in a research report on Thursday, March 6th. Five equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $120.33.

The Descartes Systems Group Stock Down 1.1 %

The Descartes Systems Group stock opened at $99.15 on Wednesday. The company has a market cap of $8.49 billion, a price-to-earnings ratio of 62.36 and a beta of 0.99. The firm’s fifty day moving average is $112.20 and its 200 day moving average is $110.17. The Descartes Systems Group Inc. has a 52-week low of $87.20 and a 52-week high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings results on Wednesday, March 5th. The technology company reported $0.43 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.43. The company had revenue of $167.50 million for the quarter, compared to the consensus estimate of $169.97 million. The Descartes Systems Group had a net margin of 21.80% and a return on equity of 10.65%. On average, equities research analysts anticipate that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current fiscal year.

The Descartes Systems Group Company Profile

The Descartes Systems Group Inc provides cloud-based logistics and supply chain management solutions worldwide. Its Logistics Technology platform offers a range of modular, interoperable web and wireless logistics management solutions. The company provides a suite of solutions that include routing, mobile, and telematics; transportation management; ecommerce, shipping, and fulfillment; customs and regulatory compliance; global trade intelligence; broker and forwarder enterprise systems; and B2B messaging and connectivity services.